This pair has not been following the Dollar Index sell off. With the break of the -27.2 % fib enter with a sell stop of 1.2780. Second entry is at -61.8% fib @ 1.2745. Take some profit off @ 1.2755. TP is at -127.2 % fib. Exit early if you see reversal candle patterns developing.
Note
Nest time I trade a fib breakout I am going to hedge trade. I would have place a buy stop @ 1.2812 which would have covered the London session as I slept. Then when NY session started I would have seen price had moved into that fib range again. There was a bearish wick that tested the lower fib range so I would have placed a sell stop @ 1.2806 just below that testing wick and also a buy stop to the above fib range @ 1.2035. I knew this already but I got a short sighted bias short and forget. There were some wicks that dropped below the -27.2% fib so I am adjusting my orginal sell stop just below the lowest wick @ 1.2770, the rest will stay the same
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.